All Forum Posts by: Rhonda McDaniel

@Mark Anthony Alvear Jr I like the wholesaling Inc. Podcast. Also here on BP you can click the networking tab and then in the search box type in your city or close area. Scroll through and find wholesalers close to you. Offer them a portion of your first deal to mentor you (or a set fee). To be paid only if/when your first deal goes through. Then stick to it and mail them a check when the deal is done. This pay for education is common in RE. It worked for me, but I did know the guy first.

@Frank Patalano I dove in and have 2 now. But am holding back to build more capital through wholesaling. Then I’ll stick to the plan to wholesale 2, buy 1 (lease option it) refi it, rinse and repeat.

@Alexander Felice love the life story. I'm in my 6th month on BP. On my 2nd SFR. So, did you get your realtor license? And did that help any?

@David Stumpf good point. I got weekly invoices and paid weekly with my last contractor. That seems to have worked.

@Narek Karamian follow up suggestions is every 2 weeks for 2 months = 4 mailers to one address. If cost is an issue the best way to factor it is to take your total for the month and see how many mailers you can send for that amount. Divide that by two (so that you can send to the same address twice). Getting noticed amongst the junk mail is the key here.

@Charles A. Thanks for sharing your story. What reading do u recommend to get started on multiplex/apartments?

My town just had a flood and I see properties popping up on the MLS for sale in the flood zone (5+) so far. This is a nice neighborhood with 3bed/2bath/2car garage homes. The homes all need half the walls removed, floors redone, mold remediation, etc.  I understand insurance prices in a flood zone are higher. The questions I have are:

1. Investors, how much below market value would you need this home to be at to get your attention? 

2. Do investors want to buy homes in flood zones?

3. What wholesale strategy would you use? Or do you leave it alone?

Thanks for the feedback. This is my first time investigation the opportunity of a flood zone neighborhood.  

@Raul De La Paz ask the title company. My company slows me to take the 1st contract with $100 escrow and not do any title work until I bring in assignment title. This does slow down the process, but for a first timer it’s a good hedge to not spend money on title work that might not go through.

David Dryer with Dryer and Associates and True Title.

@Joel Gierbolini no 15 years. I've always been asked this, so let me ask you. "why do you want a 30 year note?" Why do you want to pay double the interest?